The case, which will look at the banks’ role as “custodians” to investment funds which deposited money with Madoff,  is scheduled for the High Court and  is predicted to last 14 weeks,  Bloomberg reports.
Thema  International  Fund PLC, which is represented by local firm William Fry,  is suing the bank for around 1 billion euros.

The bank is dealing with more than 50 complaints in Ireland over claims that it should have uncovered the Madoff fraud.
The bank says it will vigorously defend itself and that, as a custodian, it was only charged with managing deposits and payments to shareholders.

Earlier lawsuit

HSBC had earlier settled a lawsuit with Kalix Fund, represented by Dillon Eustace,  which had been seeking $35 million dollars. The terms of the settlement were not disclosed. HSBC is being represented by Mathesons.